The benefits of good customer service extend far beyond the customer. They extend to your employees as well. Having happy and satisfied employees will boost their morale, increase brand loyalty, and enhance your public image. In addition, employees who are proud of their job will feel more satisfied and loyal to your company. If you’ve considered the benefits of great customer service, you’re probably interested in taking some action now. Let’s look at the raw numbers about the impact employees have on customer service along with concrete ways to improve your company’s bottom line.
Enhances public image
Good customer service not only benefits consumers, it also helps a company’s public image. In fact, Americans are willing to pay up to 17% more for a brand’s good reputation. More than 90 percent of customers read online reviews. Additionally, more than 40% of consumers would not recommend a brand if they had a negative experience. Thus, good customer service is critical to a company’s growth and public image.
Improves employee morale
Invest in and prioritize employee well-being and engagement. If employees feel appreciated and valued, they are more productive and likely to stick with your company longer. Managers can boost employee morale by providing training on emotional intelligence, giving feedback, and effective leadership styles. Providing this kind of training will not only boost employee morale, but also improve your organization’s productivity and retention. Employee well-being is also the key to competitive advantage, so don’t underestimate the importance of employee engagement and retention.
A positive attitude and an inspiring leader will do wonders for employee morale. A leader who is trustworthy, open, and honest will help employees feel appreciated and motivated. A leader who is unapproachable or dismissive may make employees feel devalued and unmotivated. A leader who is unsure of their abilities and willingness to offer feedback may negatively impact employee morale. Therefore, it is essential to provide constructive feedback and encourage employees to take ownership of their work.
Improves brand loyalty
Great customer service improves brand loyalty by keeping customers satisfied and returning to purchase your products. Brand loyalty is a self-sustaining machine for brands that manage the buying experience. Great customer service will keep customers returning, buying more and recommending your brand to others. Here are some strategies to improve customer service and increase brand loyalty. Read on to find out how! But first, let’s look at what great customer service looks like in action.
A customer can choose between many options when shopping, and the experience can make or break a brand. If a customer is unhappy with the experience they have with a particular brand, 47% will stop doing business with it. A Blackhawk Network report found that 94% of consumers are loyal to a brand that provides them with great service. So, what makes a customer loyal to a brand? It starts with shared values.
As we all know, good customer service is essential to the success of any business. It keeps customers coming back and builds a reputation as helpful and friendly. In addition to keeping customers, great customer service generates more opportunities for sales and marketing. In fact, 78% of consumers will do business with a company again after a bad experience. And as we all know, good customer service boosts revenue. So, how does good customer service increase growth?
Great customer service is about building a relationship between the business and the customer. A strong customer relationship builds trust and appreciation, and increases a buyer’s willingness to pay a higher price for a product or service. A high customer retention rate is the biggest opportunity for increasing revenue. In fact, a 5% increase in customer retention rates could increase profits by 25%. It is vital to keep track of what your customers are saying about your company online. You can use Twitter tools like Hootsuite to track online customer conversations.
Reduces churn rate
One of the most important things that you can do to reduce customer churn is to offer great service. It is proven that happy customers are less likely to leave than unhappy ones who complain. You can improve customer experience by providing extra services, such as tutorials for using your tools. You can also have a live chat helpline for your customers to ask questions. Hubspot is one such company that provides great training and a wealth of marketing tools.
Customer feedback is an excellent way to determine the causes of churn. You can use the free Customer Service Metrics Calculator from HubSpot to identify which parts of your business are experiencing high churn. In addition to analyzing churn rate, you can also ask your customers for feedback by conducting NPS surveys. These surveys offer both qualitative and quantitative feedback to help you identify unhappy customers and improve customer experience.
Creates satisfied customers
To increase your business’s bottom line, it’s time to take customer service seriously and we have the research to prove it. Studies show that 24% of satisfied customers will return to the same business within two years. Furthermore, 59% of consumers are willing to try out another company if the previous one’s customer service was lacking. According to the recent 2020 survey, attracting new customers costs five times more than retaining existing ones. Also, nine out of ten consumers say that positive reviews help them make purchasing decisions.
Providing excellent service is the key to a happy customer and to a loyal following. In fact, it’s proven that ninety-three percent of consumers are likely to buy a product or service from a company that provides exceptional customer service. With statistics like these it is easy to see that customer satisfaction directly influences customer choice and loyalty. There is no doubt about the fact that customer service is an investment that pays off in the long run.